MarketResearch.biz delivers in-depth insights on the global automotive tire market in its upcoming report titled, “Global Automotive Tire Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026”. The global automotive tire market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global automotive tire market report has been segmented on the basis of type, vehicle type, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Increasing number of production for luxury vehicles in various developed due to rising disposable income and increasing spending capacity, is resulting into increasing demand for automotive tires and is a major factor expected to drive growth of the global automotive tire market. In addition, rising demand from transportation sector for automotive tire that are safe, reliable, and able to withstand wet traction is another factor expected to support growth of the global automotive tire market. Moreover, increasing advancements in manufacturing process in-order to increase shelf-life of automotive tires is another factor expected to support growth of the automotive tire market.
However, fluctuating raw material prices is a major factor restraining growth of the global automotive tire market.
Technological advancements by increasing R&D activities by manufacturers and increasing merger and acquisition activities by international players with local manufacturers is expected to create new opportunities in terms of revenue to players operating in the global automotive tire market over the forecast period.
Asia Pacific market is expected to dominate in the global automotive tire market with higher revenue share as compared to that of the other regional markets, and is expected to continue its dominance during the forecast period. This can be attributed to increasing vehicle production in countries such as India, China, Japan, etc. and presence of prominent players operating in countries in this region. According to India Brand Equity Foundation report sales of two-wheelers in India is expected to grow 8-10 per cent in FY18. Overall automobile sales increased 24.05 per cent year-on-year to 19,39,671 units in November 2017. Furthermore, two-wheelers and passenger cars accounted for 79 per cent and 15 per cent of production volume in FY17 respectively. North America and Europe markets account for significant revenue share in the global automotive tire market followed by markets in Latin America and Middle East & Africa respectively. The market in Europe is projected to register fastest growth in terms of revenue, owing stringent government regulations related to passenger safety and presence of major vehicle manufacturers in this region.
Global Automotive Tire Market Segmentation:
- Radial Automotive tire
- Bias Automotive tire
By Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Two Wheeler
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Bridgestone Corporation
- Continental AG
- Pirelli & C. S.p.A.
- Michelin Tyre PLC
- The Goodyear Tyre & Rubber Co.
- Sumitomo Rubber Industries Ltd.
- Madras Rubber Factory Limited
- The Yokohama Rubber Co. Ltd.
- JK Tyre & Industries Ltd.
- CEAT Ltd.
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